Brazil central bank holds auction to buy dollars
Published October 8th, 2007
Brazil’s central bank said on Monday it would hold an auction to buy U.S. dollars on the spot foreign exchange market, intervening to purchase greenbacks for the first time since Aug. 13.
The bank called the auction as the Brazilian currency, the real (BRBY: Quote, Profile, Research), threatened to strengthen beyond the psychologically important 1.8-per-dollar mark for the first time since August 2000.
The real extended losses slightly after the announcement, weakening 0.61 percent to 1.815 to the dollar.
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